Hello fellow traders! Haven't posted in a while, so here's my opinion of Bitcoins market state. I set a Fib starting from March 2020's low to April 2021's high. Bitcoin has retraced to the golden 618 ratio a few weeks ago, and given past history, there's usually a reverse in the market at this level. (At least that's what were all hoping for if you're in a long position!)
This RSI, MFI, and stochastics all have lined up as oversold when we hit this level as well.
I believe we will see a rally up to test the past resistance of about 42k. Just going off the facts in the chart, no news or outside advice!
Time will tell, again this is my view and not financial advice. Good luck and remember to set stop losses!
This RSI, MFI, and stochastics all have lined up as oversold when we hit this level as well.
I believe we will see a rally up to test the past resistance of about 42k. Just going off the facts in the chart, no news or outside advice!
Time will tell, again this is my view and not financial advice. Good luck and remember to set stop losses!